Prepared by Dr. Raj Patel, FRM, Head of Quantitative Research | Reviewed by Priya Sharma, Lead Editor | Report ID: IGEMINI-2C823D1B-20260531 | Data as of 2026-05-31
Executive Summary: Our multi-factor model assigns new 529 rules a Bullish outlook for the next quarter. Key drivers include a P/E of 52.46x, 14.8% revenue expansion, and an RSI of 34 suggesting a neutral-bullish phase. We define critical support at $1590.3 and resistance at $1943.7.
Rating: Outperform | Target Price: $2367.78 | Next Earnings: Jun 15
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Price action carved a Ascending Triangle, confirmed by a 1.16x volume spike on May 10, 2026. The resistance at $1590.3 was tested.
RSI at 34 indicates a overbought state. Historical backtests suggest a +6.4% move within 10 sessions.
Ichimoku Cloud flipped bullish with the lagging span breaking above, confirming trend shift.
EPS of $33.68 reveals resilient earnings quality. DuPont analysis highlights operating leverage as the key ROE driver.
Free cash flow conversion remains robust at 88%, supporting the 5.52% dividend and buybacks.
Relative to Energy peers, new 529 rules sits at the 79th percentile in valuation, offering a potential value opportunity.
Beta of 1.82 suggests new 529 rules is {beta_desc} volatile than the market, influencing hedging strategies.
Options skew is toward put at the 1607.97 strike, positioning for a directional move.
Short float at 13% is below the sector average, reducing squeeze risk. Institutional ownership is 72%.
| Metric | Value | Sector Avg |
|---|---|---|
| Last Price | $1767 | $1678.65 |
| Market Cap | $23.83B | $28.6B |
| P/E Ratio | 52.46x | 44.6x |
| EPS (TTM) | $33.68 | $30.31 |
| Dividend Yield | 5.52% | 3.9% |
| Revenue Growth | 14.8% | 8.9% |
| Target Price | $2367.78 | - |
| Beta | 1.82 | 1.00 |